If, After Hiring the 6th Worker, a Firm's Output Falls

question 8

True/False

If, after hiring the 6th worker, a firm's output falls, then the marginal product of the 6th worker is negative.

---

Definitions:

Nondiscriminating

Characterized by equal treatment and lack of bias towards any party or group.

Pure Monopolist

A market structure where a single firm has exclusive control over the market, being the sole producer of a product with no close substitutes.

Economic Profit

The balance a firm holds after all expenses, both acknowledged and assumed, are deducted from its gross receipts.

Price Discriminating

A pricing strategy where identical or similar products or services are sold at different prices to different buyers.